Thursday, July 15, 2010

Tick confirmation in

"On the other hand, if the LOD is in we will see ourselves back at VWAP by 1:30PM or a bit earlier even."

"11:18AM: Look for tick confirmation here. Considering that we had a -1200+ tick today, we need to get at the minimum an equally strong tick on the upside (1100+) as another confirmation for LOD."

Well we hit price, time and confirmation targets again. Really wish I had tried another long this morning after my 2 failed attempts. A bit frustrating but we can say with great confidence now that we are opening up the price range towards 1100+ SPX. Maybe not right away but price action here is very indicative of higher prices and less selling pressures.

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